American Tower Corp PT Raised to $115.00 (AMT)
Equities researchers at JPMorgan Chase & Co. lifted their price target on shares of American Tower Corp (NYSE:AMT) from $95.00 to $115.00 in a research report issued on Thursday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 21.89% from the company’s current price.
AMT has been the subject of a number of other recent research reports. Analysts at Pacific Crest raised their price target on shares of American Tower Corp from $93.00 to $108.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Nomura raised their price target on shares of American Tower Corp from $90.00 to $100.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of American Tower Corp from $100.00 to $108.00 in a research note on Thursday. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $102.13.
American Tower Corp (NYSE:AMT) traded down 0.04% during mid-day trading on Thursday, hitting $94.35. The stock had a trading volume of 1,720,376 shares. American Tower Corp has a 1-year low of $67.89 and a 1-year high of $97.56. The stock’s 50-day moving average is $90.89 and its 200-day moving average is $85.51. The company has a market cap of $37.363 billion and a P/E ratio of 53.03.
American Tower Corp (NYSE:AMT) last announced its earnings results on Wednesday, July 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.15 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $2.25 earnings per share for the current fiscal year.
In other American Tower Corp news, CFO Thomas A. Bartlett unloaded 16,666 shares of the stock on the open market in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $95.00, for a total transaction of $1,583,270.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.